Procore signs multi-year strategic collaboration agreement with AWS
Director James C. Crawford III of First Bancorp (NASDAQ:FBNC) sold 3,475 shares of common stock on August 15, 2025. The shares were sold at a price of $53.10, for a total transaction value of $184,522. The transaction occurred near First Bancorp’s 52-week high of $53.23, with the stock showing strong momentum, up 23% over the past six months.
Following the transaction, Crawford directly owns 65,200 shares of First Bancorp.
Crawford also indirectly owns shares through an LLC, for his children and spouse.
In other recent news, First Bancorp’s quarterly results have exceeded expectations, with core pre-provision net revenue reaching $52.3 million, surpassing consensus estimates. This performance was attributed to stronger net interest income, higher fees, and lower expenses. Following these results, Stephens raised its price target on First Bancorp to $57, maintaining an Overweight rating. Similarly, Keefe, Bruyette & Woods increased their price target to $53, citing better-than-expected net interest income and provisioning, along with a net interest margin increase to 3.33%.
Additionally, First Bancorp announced a dividend increase to $0.23 per share, payable in July 2025. The company has also appointed Larry Jackson as the new Chief Credit Officer, bringing over 20 years of experience from his previous role at PNC. In broader regional developments, Keefe, Bruyette & Woods projects First Bancorp to achieve organic growth rates of 5-6% in 2025, with further acceleration expected in 2026. These recent developments reflect First Bancorp’s ongoing strategic initiatives and financial performance.
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